Portpin Pulls Out Of Portsmouth Bid

Balram Chainrai has released a statement this morning to announce that his company, Portpin, has pulled out of a deal to buy Portsmouth Football Club.

The poorly written statement can be read in full here and it's borderline hilarious to read the reasons why he has pulled out. It's almost like a baby having a squinny and then throwing his toys out of the pram.

The fans don't like you? Diddums. Perhaps if you kept your promises and didn't try to bleed the club dry then the fans would only dislike you rather than despise you. (Of course, I don't speak for everyone here as some fans still believe he is some sort of saviour.)

PKF do not want to compromise on their fees? I am not surprised, they are administrators after all! I do wonder if Balu even understands the word "compromise" given how much he is asking for Fratton Park.

I don't quite understand how the claims from the likes of David Lampitt and Michael Brown are "sudden" given that they claimed to be owed money months ago at least. Unless all of a "sudden" they are claiming more?

You also have to laugh at his whinging about the parachute payments being paid to creditors rather than to "carry the club" i.e: find their way into Chainrai's back pocket. This is probably the real reason why Portpin are pulling out.

Chainrai also says that the club have been deducted ten points "for no reasonable reason." How about screwing small businesses and other creditors out of 99% of what they are owed, Balu?

The final statement about Appleton is also laughable. Do you really expect our manager to declare that we are going to be competitive in League One with only two permanent players on the books, a ten point deduction and a 60% decrease on the "promised" budget?

The whole statement is a joke, underlined by the "We will sleep well knowing we did our utmost to save the club." Unbelieveable.

You would have to be naive to believe that this is the last we've heard of Chainrai. He will still have to negotiate a deal for Fratton Park with the Trust and it wouldn't surprise me to see the Trust bid fall short for whatever reason and Chainrai to re-declare his interest in bidding for Pompey so he can paint himself as some sort of saviour.

This saga will continue to drag for some time yet. The only real positive that can come from this is that more Pompey fans will now pledge their £1,000 and the Trust can strengthen their bid for the club.

What will happen next in the soap opera that is Portsmouth Football Club?